In a recently unveiled autobiography, called Ithaki, the former prime minister Tsipras spares no criticism while he revisits that chaotic period of Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, he selected that maverick economist Varoufakis as his finance minister mainly due to the latter's international reputation along with his very persuasive abilities as a communicator.
“He was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had a personal motives that included advancing Varoufakis's publications as well as experimenting with his own theories using Greece rather than genuinely advocating the country's financial survival.
He wrote how those negotiations to prevent bankruptcy became “not just a method to secure improved terms for Greece. They became a test, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
During tense negotiations, the country came dangerously close to leaving the single currency area.
On the line lay not only Greece's future but also those severe cutbacks required in exchange for financial aid by international creditors.
Failed Options
Efforts to secure financing from other sources, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, a move that threw Europe into deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive handling.”
He also wrote how Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
